Menu Close

Category: IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS – 16

IC70 MARINE HULL INSURANCE UNDERWRITING AND CLAIMS – 16

Que. 1 : Q1) This hire is normally payable monthly in advance and this freight is at the risk of the ship owner, because damage to the ship due to insurable risks may result in total or partial loss the _________.

   1.  a) Time charter hire

   2 b) Freight payable “ship or cargo lost or not lost”

   3.  c) Lump sum freight

   4.  d) Freight payable on delivery

Que. 2 : Q2) The conditions applicable are those covered by Institute Time Clauses-Hulls, but excluding Total Loss and it is usual to stipulate that repairs must be commenced within ___________ of the expiry of the policy.

   1.  a) 6 months

   2.  b) 12 months

   3.  c) 18 months

   4.  d) 24 months

Que. 3 : Q3) According to section 57(1) of the Act, there is an _________ where the subject-matter insured is destroyed, or so damaged as to cease to be a thing of the kind insured, or where the assured is irretrievably deprived thereof.

   1.  a) Constructive Total Loss

   2.  b) Particular Average Loss

   3.  c) Actual Total Loss

   4.  d) General Average Loss

Que. 4 : Q4) In insurance on freight, whether paid in advance or otherwise, the insurable value is the gross amount of freight at the risk of the assured plus______________.

   1.  a) The underwriting charges

   2.  b) The charges of insurance

   3.  c) The expenses of earning the freight

   4.  d) The amount of loss

Que. 5 : Q5) Which are looked upon as the “maids of all work” for the merchant fleets and are expected to render services which are many and varied and the basic requirements for these are stability under all conditions of operation, maneuverability and adequate towing power?

   1.  a) Fishing Trawier with Net

   2.  b) Dredgers

   3.  c) Tugs

   4.  d) Fishing Boats